Cidara Therapeutics' (CDTX) "Market Outperform" Rating Reiterated at JMP Securities

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report)'s stock had its "market outperform" rating restated by investment analysts at JMP Securities in a note issued to investors on Monday,Benzinga reports. They presently have a $47.00 price target on the biotechnology company's stock. JMP Securities' price target points to a potential upside of 94.66% from the company's current price.

CDTX has been the subject of several other research reports. Guggenheim boosted their price objective on Cidara Therapeutics from $35.00 to $50.00 and gave the company a "buy" rating in a report on Friday, May 16th. Needham & Company LLC restated a "buy" rating and set a $35.00 price objective on shares of Cidara Therapeutics in a report on Friday, May 23rd. Citizens Jmp initiated coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They set an "outperform" rating and a $46.00 price objective for the company. Wall Street Zen upgraded Cidara Therapeutics to a "sell" rating in a report on Saturday, May 10th. Finally, Cantor Fitzgerald upgraded Cidara Therapeutics to a "strong-buy" rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Cidara Therapeutics currently has an average rating of "Buy" and an average price target of $42.00.

Cidara Therapeutics Trading Up 0.4%

CDTX stock traded up $0.10 during mid-day trading on Monday, reaching $24.15. The company's stock had a trading volume of 140,549 shares, compared to its average volume of 141,350. The company has a market cap of $302.95 million, a price-to-earnings ratio of -0.95 and a beta of 0.86. Cidara Therapeutics has a 12 month low of $10.14 and a 12 month high of $28.42. The business's 50 day moving average price is $20.84 and its 200 day moving average price is $21.56.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biotechnology company reported ($1.66) EPS for the quarter, beating the consensus estimate of ($5.45) by $3.79. Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. As a group, equities analysts expect that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

Insider Activity at Cidara Therapeutics

In other Cidara Therapeutics news, COO Shane Ward sold 1,664 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $36,541.44. Following the transaction, the chief operating officer now owns 14,674 shares of the company's stock, valued at approximately $322,241.04. The trade was a 10.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Leslie Tari sold 1,773 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $38,935.08. Following the completion of the transaction, the insider now directly owns 16,215 shares in the company, valued at approximately $356,081.40. This represents a 9.86% decrease in their position. The disclosure for this sale can be found here. 3.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CDTX. ADAR1 Capital Management LLC purchased a new position in Cidara Therapeutics in the fourth quarter worth $670,000. Vivo Capital LLC purchased a new position in shares of Cidara Therapeutics during the 4th quarter valued at $18,026,000. Adage Capital Partners GP L.L.C. lifted its position in shares of Cidara Therapeutics by 765.3% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 369,954 shares of the biotechnology company's stock valued at $9,944,000 after buying an additional 327,199 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Cidara Therapeutics during the 4th quarter valued at $419,000. Finally, Northern Trust Corp raised its stake in shares of Cidara Therapeutics by 6.8% during the 4th quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company's stock valued at $913,000 after purchasing an additional 2,170 shares during the period. Hedge funds and other institutional investors own 35.82% of the company's stock.

About Cidara Therapeutics

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.